SpaceX's Bitcoin holdings shrank by around $235 million in three months, facing ongoing disclosure pressure post-IPO

BlockBeats News, March 2nd, SpaceX is preparing to submit a confidential IPO application to the U.S. SEC as early as March, with a target of going public in June. The valuation is expected to exceed $1.75 trillion, with a maximum fundraising size of up to $50 billion, potentially surpassing the record of $29 billion set by Saudi Aramco's IPO in 2019.

On-chain data shows that SpaceX currently custody around 8,285 bitcoins through Coinbase Prime, with a market value of approximately $545 million at the current price. Compared to the market value of around $780 million when bitcoin was around $92,500 in December last year, the book value has shrunk by approximately $235 million in three months.

If successfully listed, SpaceX will disclose the book gains or losses related to bitcoin in its S-1 filing and subsequent financial reports, facing similar crypto asset volatility and public opinion pressure as Tesla.

Historical data shows that SpaceX's bitcoin holdings have experienced a significant retreat since nearing a high of nearly $2 billion in 2021, with the market value fluctuating mainly between $400 million and $800 million over the past two years, during which there have been no significant signs of divestment.